Credit/Private Debt
The plan hired two private debt managers at its board meeting yesterday and will consider making changes to its private equity portfolio next year.
Plan will see a firm for passive U.S. and non-U.S. equities, fixed-income and real assets investment management services.
The plan will receive two search book presentations at this week’s investment committee meeting.
Plan is seeking a firm to manage a customized multi-credit mandate with an initial range between $400 million and $1 billion.
He will be responsible for evaluating, executing, monitoring, originating and structuring the firm’s credit and royalty investments.
The plan has issued its RFP seeking a separate account manager to handle an approximately $750 million allocation.
Plan wrapped up a direct lending manager search with a $12 million commitment in September.
Institution announced a recent $500 million investment with a New York-based manager.
The plan is set to commit a total of $200 million to private credit next year.
The plan has created a new target to direct lending as part of a new asset allocation policy.